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News Corp. posts $203 million net loss in fiscal fourth quarter
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08-05-2009
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News Corp. posts $203 million net loss in fiscal fourth quarter
Media conglomerate News Corp. has attributed its $203 million net loss in the fiscal fourth quarter to MySpace\'s $680 million in operating and impairment. It experienced a net loss of $.08 per share, which is considerably worse than its reported $1.1 billion net profit ($.43 per share) in the year-ago quarter. Its operating profit for the year was a bit worse than anticipated due to the weak economy.
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